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| | The Columbia Encyclopedia, Sixth Edition: value @ HighBeam Research (Site not responding. Last check: 2007-10-29) |
 | | VALUE [value] in economics, worth of a commodity in terms of other commodities, or in terms of money (see price). |
 | | It developed in opposition to David Ricardo 's earlier labor theory of value, which holds that the value of a good derives from the effort of production, based on supply. |
 | | In the marginal theory of value, there is an exchange value, as Ricardo postulated, but there is also a use value, which signifies the utility of a given commodity for satisfying a human desire. |
| highbeam.com /library/doc0.asp?DOCID=1E1:value2&... (280 words) |
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